2012-10-30
In 1876, the James-Younger Gang staged its final daring act: the raid on the First National Bank of Northfield, Minnesota. The robbery, led by the infamous Jesse James and Cole Younger, transfixed the country and to this day lives on in legend and folk song. Local citizens took up guns to defend the bank and chased the robbers off.
Every September Northfield hosts the Defeat of Jesse James Days, a celebration of the town's victory over the deadly James-Younger Gang.
I finally got to visit the famous bank in Northfield last week. The locals got a kick out of asking me, "Do you know why they robbed the bank?" “No,” I replied, “Why?” "Well, that's where the money was,” they replied, laughing. I get it.
Of a bold high robbery*
In 1876, the James-Younger Gang staged its final daring act: the raid on the First National Bank of Northfield, Minnesota. The robbery, led by the infamous Jesse James and Cole Younger, transfixed the country and to this day lives on in legend and folk song. Local citizens took up guns to defend the bank and chased the robbers off.
Every September Northfield hosts the Defeat of Jesse James Days, a celebration of the town's victory over the deadly James-Younger Gang.
I finally got to visit the famous bank in Northfield last week. The locals got a kick out of asking me, "Do you know why they robbed the bank?" “No,” I replied, “Why?” "Well, that's where the money was,” they replied, laughing. I get it.
2012-10-25
Nobody feels too good when the market loses almost 2% in one day. So I want to be among the first to say that in my view this earnings upset that took stocks lower is really more of a one-off than the beginning of a long-term trend.
About 40% of companies (in terms of market capitalization) that make up the Standard & Poor’s 500 Stock Index have reported third-quarter earnings thus far. Disappointingly, earnings are coming in weaker than Wall Street expected. We have not seen the same record outcomes for companies that we had witnessed during the whole quarter-over-quarter trajectory beginning with the end of the 2009 recession. In other words, earnings are a concern. But as I said two weeks ago, my caution revolves around whether this earnings drop-off is indicative of a longer-term trend.
Caution remains the word, but let’s just call this a one-off
Nobody feels too good when the market loses almost 2% in one day. So I want to be among the first to say that in my view this earnings upset that took stocks lower is really more of a one-off than the beginning of a long-term trend.
About 40% of companies (in terms of market capitalization) that make up the Standard & Poor’s 500 Stock Index have reported third-quarter earnings thus far. Disappointingly, earnings are coming in weaker than Wall Street expected. We have not seen the same record outcomes for companies that we had witnessed during the whole quarter-over-quarter trajectory beginning with the end of the 2009 recession. In other words, earnings are a concern. But as I said two weeks ago, my caution revolves around whether this earnings drop-off is indicative of a longer-term trend.
2012-10-23
Last week, I was waiting in Fox News’ so-called Green Room before my interview with Liz Claman and I had the pleasure of meeting a doctor whose company is seeking approval for a new drug to target certain types of cancer.
It was a great tale of innovation and added proof that Americans continue to break new ground even in a down economy.
The Golden Age is before, not behind, us
Last week, I was waiting in Fox News’ so-called Green Room before my interview with Liz Claman and I had the pleasure of meeting a doctor whose company is seeking approval for a new drug to target certain types of cancer.
It was a great tale of innovation and added proof that Americans continue to break new ground even in a down economy.
2012-10-12
As I was walking across a bridge near the site of the Boston Tea Party the other day, a large cement truck rumbled by, and the driver yelled out: “Jim Swanson!” I was flattered by the recognition, and it was a welcome distraction from the filming project and discussion of the economy and election that I had been engaged in.
This chance meeting also illustrated an important point for me.
The driver was the father of a very good friend from Rhode Island. He happened to recognize me as I crossed the street with my colleague. He is now working in Boston and told me that construction activity in city has not been this robust since the end of Boston’s Big Dig.
Sidelined
As I was walking across a bridge near the site of the Boston Tea Party the other day, a large cement truck rumbled by, and the driver yelled out: “Jim Swanson!” I was flattered by the recognition, and it was a welcome distraction from the filming project and discussion of the economy and election that I had been engaged in.
This chance meeting also illustrated an important point for me.
The driver was the father of a very good friend from Rhode Island. He happened to recognize me as I crossed the street with my colleague. He is now working in Boston and told me that construction activity in city has not been this robust since the end of Boston’s Big Dig.
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